Furlenco raises Rs 1,000 cr from Zinnia Global Fund
New Delhi: Furniture rental player Furlenco has raised Rs 1,000 crore through a mix of equity and debt from Zinnia Global Fund. Some of the current investors of the company like Lightbox Ventures and CE-Ventures also participated in the latest funding round.
"With this new fundraise, the company will cater to much larger audiences with more tailored solutions and brand new offerings, while continuing to focus on sustainability at the very core of the business," Furlenco said in a statement.
"The company is now looking at scaling its annual revenue to Rs 2,200 crore in the coming five years, generating Rs 650 crore in free cash annually, by FY 2026," the statement said.
Furlenco will soon enter markets like Ahmedabad, Jaipur and Mysuru. It is now looking at entering more Tier-1 and Tier-2 markets.